VIP-226: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks and fix BUSD price to $1 Summary If passed, this VIP will perform the following actions: - Redeem the vBUSD from the community treasury (7,021,262.3 vBUSD to 156,571 BUSD, approximately) - Transfer BUSD reserves (2,373,087.5 BUSD) and redeemed BUSD liquidation revenue (156,571 BUSD, approximately) to Binance, where it will be exchanged for USDT. The converted USDT will then be sent back to the Community Treasury - Set a fixed price of $1 for BUSD, preparing for the deprecation of BUSD price feed on Chainlink, scheduled for January 5th, 2024 Description The Community Treasury holds 7,021,262.3 vBUSD (redeemable to approximately 156,571 BUSD), and the BUSD reserves are 2,373,087.5 BUSD (block 34837453). This VIP will redeem the vBUSD tokens currently held by the Community Treasury, and transfer the BUSD to Binance for the conversion to USDT. To do that, the VIP will use the TokenRedeemer contract. This VIP also withdraws all available BUSD reserves to Binance for the conversion to USDT. The converted USDT will then be redeposited into our Treasury. This VIP fixes the BUSD price to $1. The collateral factor of this market was set to zero in the VIP-223, users cannot supply BUSD to the market and they cannot borrow BUSD from the market either. Therefore, setting the price for BUSD to $1 fixed does not have any impact on the protocol, it is only a cosmetic measure aligned with the Paxos statement. VIP simulation: https://github.com/VenusProtocol/vips/pull/147 References - VIP-215 BUSD debt mitigation - VIP-216: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks - TokenRedeemer contract deployed to mainnet Vote 👉🏻 https://app.venus.io/#/governance/proposal/226?chainId=56

VIP-226: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks and fix BUSD price to $1 Summary If passed, this VIP will perform the following actions: - Redeem the vBUSD from the community treasury (7,021,262.3 vBUSD to 156,571 BUSD, approximately) - Transfer BUSD reserves (2,373,087.5 BUSD) and redeemed BUSD liquidation revenue (156,571 BUSD, approximately) to Binance, where it will be exchanged for USDT. The converted USDT will then be sent back to the Community Treasury - Set a fixed price of $1 for BUSD, preparing for the deprecation of BUSD price feed on Chainlink, scheduled for January 5th, 2024 Description The Community Treasury holds 7,021,262.3 vBUSD (redeemable to approximately 156,571 BUSD), and the BUSD reserves are 2,373,087.5 BUSD (block 34837453). This VIP will redeem the vBUSD tokens currently held by the Community Treasury, and transfer the BUSD to Binance for the conversion to USDT. To do that, the VIP will use the TokenRedeemer contract. This VIP also withdraws all available BUSD reserves to Binance for the conversion to USDT. The converted USDT will then be redeposited into our Treasury. This VIP fixes the BUSD price to $1. The collateral factor of this market was set to zero in the VIP-223, users cannot supply BUSD to the market and they cannot borrow BUSD from the market either. Therefore, setting the price for BUSD to $1 fixed does not have any impact on the protocol, it is only a cosmetic measure aligned with the Paxos statement. VIP simulation: https://github.com/VenusProtocol/vips/pull/147 References - VIP-215 BUSD debt mitigation - VIP-216: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks - TokenRedeemer contract deployed to mainnet Vote 👉🏻 https://app.venus.io/#/governance/proposal/226?chainId=56

VIP-226: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks and fix BUSD price to $1 Summary If passed, this VIP will perform the following actions: - Redeem the vBUSD from the community treasury (7,021,262.3 vBUSD to 156,571 BUSD, approximately) - Transfer BUSD reserves (2,373,087.5 BUSD) and redeemed BUSD liquidation revenue (156,571 BUSD, approximately) to Binance, where it will be exchanged for USDT. The converted USDT will then be sent back to the Community Treasury - Set a fixed price of $1 for BUSD, preparing for the deprecation of BUSD price feed on Chainlink, scheduled for January 5th, 2024 Description The Community Treasury holds 7,021,262.3 vBUSD (redeemable to approximately 156,571 BUSD), and the BUSD reserves are 2,373,087.5 BUSD (block 34837453). This VIP will redeem the vBUSD tokens currently held by the Community Treasury, and transfer the BUSD to Binance for the conversion to USDT. To do that, the VIP will use the TokenRedeemer contract. This VIP also withdraws all available BUSD reserves to Binance for the conversion to USDT. The converted USDT will then be redeposited into our Treasury. This VIP fixes the BUSD price to $1. The collateral factor of this market was set to zero in the VIP-223, users cannot supply BUSD to the market and they cannot borrow BUSD from the market either. Therefore, setting the price for BUSD to $1 fixed does not have any impact on the protocol, it is only a cosmetic measure aligned with the Paxos statement. VIP simulation: https://github.com/VenusProtocol/vips/pull/147 References - VIP-215 BUSD debt mitigation - VIP-216: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks - TokenRedeemer contract deployed to mainnet Vote 👉🏻 https://app.venus.io/#/governance/proposal/226?chainId=56

VIP-226: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks and fix BUSD price to $1 Summary If passed, this VIP will perform the following actions: - Redeem the vBUSD from the community treasury (7,021,262.3 vBUSD to 156,571 BUSD, approximately) - Transfer BUSD reserves (2,373,087.5 BUSD) and redeemed BUSD liquidation revenue (156,571 BUSD, approximately) to Binance, where it will be exchanged for USDT. The converted USDT will then be sent back to the Community Treasury - Set a fixed price of $1 for BUSD, preparing for the deprecation of BUSD price feed on Chainlink, scheduled for January 5th, 2024 Description The Community Treasury holds 7,021,262.3 vBUSD (redeemable to approximately 156,571 BUSD), and the BUSD reserves are 2,373,087.5 BUSD (block 34837453). This VIP will redeem the vBUSD tokens currently held by the Community Treasury, and transfer the BUSD to Binance for the conversion to USDT. To do that, the VIP will use the TokenRedeemer contract. This VIP also withdraws all available BUSD reserves to Binance for the conversion to USDT. The converted USDT will then be redeposited into our Treasury. This VIP fixes the BUSD price to $1. The collateral factor of this market was set to zero in the VIP-223, users cannot supply BUSD to the market and they cannot borrow BUSD from the market either. Therefore, setting the price for BUSD to $1 fixed does not have any impact on the protocol, it is only a cosmetic measure aligned with the Paxos statement. VIP simulation: https://github.com/VenusProtocol/vips/pull/147 References - VIP-215 BUSD debt mitigation - VIP-216: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks - TokenRedeemer contract deployed to mainnet Vote 👉🏻 https://app.venus.io/#/governance/proposal/226?chainId=56

VIP-226: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks and fix BUSD price to $1 Summary If passed, this VIP will perform the following actions: - Redeem the vBUSD from the community treasury (7,021,262.3 vBUSD to 156,571 BUSD, approximately) - Transfer BUSD reserves (2,373,087.5 BUSD) and redeemed BUSD liquidation revenue (156,571 BUSD, approximately) to Binance, where it will be exchanged for USDT. The converted USDT will then be sent back to the Community Treasury - Set a fixed price of $1 for BUSD, preparing for the deprecation of BUSD price feed on Chainlink, scheduled for January 5th, 2024 Description The Community Treasury holds 7,021,262.3 vBUSD (redeemable to approximately 156,571 BUSD), and the BUSD reserves are 2,373,087.5 BUSD (block 34837453). This VIP will redeem the vBUSD tokens currently held by the Community Treasury, and transfer the BUSD to Binance for the conversion to USDT. To do that, the VIP will use the TokenRedeemer contract. This VIP also withdraws all available BUSD reserves to Binance for the conversion to USDT. The converted USDT will then be redeposited into our Treasury. This VIP fixes the BUSD price to $1. The collateral factor of this market was set to zero in the VIP-223, users cannot supply BUSD to the market and they cannot borrow BUSD from the market either. Therefore, setting the price for BUSD to $1 fixed does not have any impact on the protocol, it is only a cosmetic measure aligned with the Paxos statement. VIP simulation: https://github.com/VenusProtocol/vips/pull/147 References - VIP-215 BUSD debt mitigation - VIP-216: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks - TokenRedeemer contract deployed to mainnet Vote 👉🏻 https://app.venus.io/#/governance/proposal/226?chainId=56

VIP-226: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks and fix BUSD price to $1 Summary If passed, this VIP will perform the following actions: - Redeem the vBUSD from the community treasury (7,021,262.3 vBUSD to 156,571 BUSD, approximately) - Transfer BUSD reserves (2,373,087.5 BUSD) and redeemed BUSD liquidation revenue (156,571 BUSD, approximately) to Binance, where it will be exchanged for USDT. The converted USDT will then be sent back to the Community Treasury - Set a fixed price of $1 for BUSD, preparing for the deprecation of BUSD price feed on Chainlink, scheduled for January 5th, 2024 Description The Community Treasury holds 7,021,262.3 vBUSD (redeemable to approximately 156,571 BUSD), and the BUSD reserves are 2,373,087.5 BUSD (block 34837453). This VIP will redeem the vBUSD tokens currently held by the Community Treasury, and transfer the BUSD to Binance for the conversion to USDT. To do that, the VIP will use the TokenRedeemer contract. This VIP also withdraws all available BUSD reserves to Binance for the conversion to USDT. The converted USDT will then be redeposited into our Treasury. This VIP fixes the BUSD price to $1. The collateral factor of this market was set to zero in the VIP-223, users cannot supply BUSD to the market and they cannot borrow BUSD from the market either. Therefore, setting the price for BUSD to $1 fixed does not have any impact on the protocol, it is only a cosmetic measure aligned with the Paxos statement. VIP simulation: https://github.com/VenusProtocol/vips/pull/147 References - VIP-215 BUSD debt mitigation - VIP-216: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks - TokenRedeemer contract deployed to mainnet Vote 👉🏻 https://app.venus.io/#/governance/proposal/226?chainId=56

VIP-226: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks and fix BUSD price to $1 Summary If passed, this VIP will perform the following actions: - Redeem the vBUSD from the community treasury (7,021,262.3 vBUSD to 156,571 BUSD, approximately) - Transfer BUSD reserves (2,373,087.5 BUSD) and redeemed BUSD liquidation revenue (156,571 BUSD, approximately) to Binance, where it will be exchanged for USDT. The converted USDT will then be sent back to the Community Treasury - Set a fixed price of $1 for BUSD, preparing for the deprecation of BUSD price feed on Chainlink, scheduled for January 5th, 2024 Description The Community Treasury holds 7,021,262.3 vBUSD (redeemable to approximately 156,571 BUSD), and the BUSD reserves are 2,373,087.5 BUSD (block 34837453). This VIP will redeem the vBUSD tokens currently held by the Community Treasury, and transfer the BUSD to Binance for the conversion to USDT. To do that, the VIP will use the TokenRedeemer contract. This VIP also withdraws all available BUSD reserves to Binance for the conversion to USDT. The converted USDT will then be redeposited into our Treasury. This VIP fixes the BUSD price to $1. The collateral factor of this market was set to zero in the VIP-223, users cannot supply BUSD to the market and they cannot borrow BUSD from the market either. Therefore, setting the price for BUSD to $1 fixed does not have any impact on the protocol, it is only a cosmetic measure aligned with the Paxos statement. VIP simulation: https://github.com/VenusProtocol/vips/pull/147 References - VIP-215 BUSD debt mitigation - VIP-216: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks - TokenRedeemer contract deployed to mainnet Vote 👉🏻 https://app.venus.io/#/governance/proposal/226?chainId=56

VIP-226: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks and fix BUSD price to $1 Summary If passed, this VIP will perform the following actions: - Redeem the vBUSD from the community treasury (7,021,262.3 vBUSD to 156,571 BUSD, approximately) - Transfer BUSD reserves (2,373,087.5 BUSD) and redeemed BUSD liquidation revenue (156,571 BUSD, approximately) to Binance, where it will be exchanged for USDT. The converted USDT will then be sent back to the Community Treasury - Set a fixed price of $1 for BUSD, preparing for the deprecation of BUSD price feed on Chainlink, scheduled for January 5th, 2024 Description The Community Treasury holds 7,021,262.3 vBUSD (redeemable to approximately 156,571 BUSD), and the BUSD reserves are 2,373,087.5 BUSD (block 34837453). This VIP will redeem the vBUSD tokens currently held by the Community Treasury, and transfer the BUSD to Binance for the conversion to USDT. To do that, the VIP will use the TokenRedeemer contract. This VIP also withdraws all available BUSD reserves to Binance for the conversion to USDT. The converted USDT will then be redeposited into our Treasury. This VIP fixes the BUSD price to $1. The collateral factor of this market was set to zero in the VIP-223, users cannot supply BUSD to the market and they cannot borrow BUSD from the market either. Therefore, setting the price for BUSD to $1 fixed does not have any impact on the protocol, it is only a cosmetic measure aligned with the Paxos statement. VIP simulation: https://github.com/VenusProtocol/vips/pull/147 References - VIP-215 BUSD debt mitigation - VIP-216: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks - TokenRedeemer contract deployed to mainnet Vote 👉🏻 https://app.venus.io/#/governance/proposal/226?chainId=56

VIP-226: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks and fix BUSD price to $1 Summary If passed, this VIP will perform the following actions: - Redeem the vBUSD from the community treasury (7,021,262.3 vBUSD to 156,571 BUSD, approximately) - Transfer BUSD reserves (2,373,087.5 BUSD) and redeemed BUSD liquidation revenue (156,571 BUSD, approximately) to Binance, where it will be exchanged for USDT. The converted USDT will then be sent back to the Community Treasury - Set a fixed price of $1 for BUSD, preparing for the deprecation of BUSD price feed on Chainlink, scheduled for January 5th, 2024 Description The Community Treasury holds 7,021,262.3 vBUSD (redeemable to approximately 156,571 BUSD), and the BUSD reserves are 2,373,087.5 BUSD (block 34837453). This VIP will redeem the vBUSD tokens currently held by the Community Treasury, and transfer the BUSD to Binance for the conversion to USDT. To do that, the VIP will use the TokenRedeemer contract. This VIP also withdraws all available BUSD reserves to Binance for the conversion to USDT. The converted USDT will then be redeposited into our Treasury. This VIP fixes the BUSD price to $1. The collateral factor of this market was set to zero in the VIP-223, users cannot supply BUSD to the market and they cannot borrow BUSD from the market either. Therefore, setting the price for BUSD to $1 fixed does not have any impact on the protocol, it is only a cosmetic measure aligned with the Paxos statement. VIP simulation: https://github.com/VenusProtocol/vips/pull/147 References - VIP-215 BUSD debt mitigation - VIP-216: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks - TokenRedeemer contract deployed to mainnet Vote 👉🏻 https://app.venus.io/#/governance/proposal/226?chainId=56

VIP-226: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks and fix BUSD price to $1 Summary If passed, this VIP will perform the following actions: - Redeem the vBUSD from the community treasury (7,021,262.3 vBUSD to 156,571 BUSD, approximately) - Transfer BUSD reserves (2,373,087.5 BUSD) and redeemed BUSD liquidation revenue (156,571 BUSD, approximately) to Binance, where it will be exchanged for USDT. The converted USDT will then be sent back to the Community Treasury - Set a fixed price of $1 for BUSD, preparing for the deprecation of BUSD price feed on Chainlink, scheduled for January 5th, 2024 Description The Community Treasury holds 7,021,262.3 vBUSD (redeemable to approximately 156,571 BUSD), and the BUSD reserves are 2,373,087.5 BUSD (block 34837453). This VIP will redeem the vBUSD tokens currently held by the Community Treasury, and transfer the BUSD to Binance for the conversion to USDT. To do that, the VIP will use the TokenRedeemer contract. This VIP also withdraws all available BUSD reserves to Binance for the conversion to USDT. The converted USDT will then be redeposited into our Treasury. This VIP fixes the BUSD price to $1. The collateral factor of this market was set to zero in the VIP-223, users cannot supply BUSD to the market and they cannot borrow BUSD from the market either. Therefore, setting the price for BUSD to $1 fixed does not have any impact on the protocol, it is only a cosmetic measure aligned with the Paxos statement. VIP simulation: https://github.com/VenusProtocol/vips/pull/147 References - VIP-215 BUSD debt mitigation - VIP-216: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks - TokenRedeemer contract deployed to mainnet Vote 👉🏻 https://app.venus.io/#/governance/proposal/226?chainId=56

VIP-226: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks and fix BUSD price to $1 Summary If passed, this VIP will perform the following actions: - Redeem the vBUSD from the community treasury (7,021,262.3 vBUSD to 156,571 BUSD, approximately) - Transfer BUSD reserves (2,373,087.5 BUSD) and redeemed BUSD liquidation revenue (156,571 BUSD, approximately) to Binance, where it will be exchanged for USDT. The converted USDT will then be sent back to the Community Treasury - Set a fixed price of $1 for BUSD, preparing for the deprecation of BUSD price feed on Chainlink, scheduled for January 5th, 2024 Description The Community Treasury holds 7,021,262.3 vBUSD (redeemable to approximately 156,571 BUSD), and the BUSD reserves are 2,373,087.5 BUSD (block 34837453). This VIP will redeem the vBUSD tokens currently held by the Community Treasury, and transfer the BUSD to Binance for the conversion to USDT. To do that, the VIP will use the TokenRedeemer contract. This VIP also withdraws all available BUSD reserves to Binance for the conversion to USDT. The converted USDT will then be redeposited into our Treasury. This VIP fixes the BUSD price to $1. The collateral factor of this market was set to zero in the VIP-223, users cannot supply BUSD to the market and they cannot borrow BUSD from the market either. Therefore, setting the price for BUSD to $1 fixed does not have any impact on the protocol, it is only a cosmetic measure aligned with the Paxos statement. VIP simulation: https://github.com/VenusProtocol/vips/pull/147 References - VIP-215 BUSD debt mitigation - VIP-216: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks - TokenRedeemer contract deployed to mainnet Vote 👉🏻 https://app.venus.io/#/governance/proposal/226?chainId=56

VIP-226: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks and fix BUSD price to $1 Summary If passed, this VIP will perform the following actions: - Redeem the vBUSD from the community treasury (7,021,262.3 vBUSD to 156,571 BUSD, approximately) - Transfer BUSD reserves (2,373,087.5 BUSD) and redeemed BUSD liquidation revenue (156,571 BUSD, approximately) to Binance, where it will be exchanged for USDT. The converted USDT will then be sent back to the Community Treasury - Set a fixed price of $1 for BUSD, preparing for the deprecation of BUSD price feed on Chainlink, scheduled for January 5th, 2024 Description The Community Treasury holds 7,021,262.3 vBUSD (redeemable to approximately 156,571 BUSD), and the BUSD reserves are 2,373,087.5 BUSD (block 34837453). This VIP will redeem the vBUSD tokens currently held by the Community Treasury, and transfer the BUSD to Binance for the conversion to USDT. To do that, the VIP will use the TokenRedeemer contract. This VIP also withdraws all available BUSD reserves to Binance for the conversion to USDT. The converted USDT will then be redeposited into our Treasury. This VIP fixes the BUSD price to $1. The collateral factor of this market was set to zero in the VIP-223, users cannot supply BUSD to the market and they cannot borrow BUSD from the market either. Therefore, setting the price for BUSD to $1 fixed does not have any impact on the protocol, it is only a cosmetic measure aligned with the Paxos statement. VIP simulation: https://github.com/VenusProtocol/vips/pull/147 References - VIP-215 BUSD debt mitigation - VIP-216: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks - TokenRedeemer contract deployed to mainnet Vote 👉🏻 https://app.venus.io/#/governance/proposal/226?chainId=56

VIP-226: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks and fix BUSD price to $1 Summary If passed, this VIP will perform the following actions: - Redeem the vBUSD from the community treasury (7,021,262.3 vBUSD to 156,571 BUSD, approximately) - Transfer BUSD reserves (2,373,087.5 BUSD) and redeemed BUSD liquidation revenue (156,571 BUSD, approximately) to Binance, where it will be exchanged for USDT. The converted USDT will then be sent back to the Community Treasury - Set a fixed price of $1 for BUSD, preparing for the deprecation of BUSD price feed on Chainlink, scheduled for January 5th, 2024 Description The Community Treasury holds 7,021,262.3 vBUSD (redeemable to approximately 156,571 BUSD), and the BUSD reserves are 2,373,087.5 BUSD (block 34837453). This VIP will redeem the vBUSD tokens currently held by the Community Treasury, and transfer the BUSD to Binance for the conversion to USDT. To do that, the VIP will use the TokenRedeemer contract. This VIP also withdraws all available BUSD reserves to Binance for the conversion to USDT. The converted USDT will then be redeposited into our Treasury. This VIP fixes the BUSD price to $1. The collateral factor of this market was set to zero in the VIP-223, users cannot supply BUSD to the market and they cannot borrow BUSD from the market either. Therefore, setting the price for BUSD to $1 fixed does not have any impact on the protocol, it is only a cosmetic measure aligned with the Paxos statement. VIP simulation: https://github.com/VenusProtocol/vips/pull/147 References - VIP-215 BUSD debt mitigation - VIP-216: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks - TokenRedeemer contract deployed to mainnet Vote 👉🏻 https://app.venus.io/#/governance/proposal/226?chainId=56

VIP-226: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks and fix BUSD price to $1 Summary If passed, this VIP will perform the following actions: - Redeem the vBUSD from the community treasury (7,021,262.3 vBUSD to 156,571 BUSD, approximately) - Transfer BUSD reserves (2,373,087.5 BUSD) and redeemed BUSD liquidation revenue (156,571 BUSD, approximately) to Binance, where it will be exchanged for USDT. The converted USDT will then be sent back to the Community Treasury - Set a fixed price of $1 for BUSD, preparing for the deprecation of BUSD price feed on Chainlink, scheduled for January 5th, 2024 Description The Community Treasury holds 7,021,262.3 vBUSD (redeemable to approximately 156,571 BUSD), and the BUSD reserves are 2,373,087.5 BUSD (block 34837453). This VIP will redeem the vBUSD tokens currently held by the Community Treasury, and transfer the BUSD to Binance for the conversion to USDT. To do that, the VIP will use the TokenRedeemer contract. This VIP also withdraws all available BUSD reserves to Binance for the conversion to USDT. The converted USDT will then be redeposited into our Treasury. This VIP fixes the BUSD price to $1. The collateral factor of this market was set to zero in the VIP-223, users cannot supply BUSD to the market and they cannot borrow BUSD from the market either. Therefore, setting the price for BUSD to $1 fixed does not have any impact on the protocol, it is only a cosmetic measure aligned with the Paxos statement. VIP simulation: https://github.com/VenusProtocol/vips/pull/147 References - VIP-215 BUSD debt mitigation - VIP-216: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks - TokenRedeemer contract deployed to mainnet Vote 👉🏻 https://app.venus.io/#/governance/proposal/226?chainId=56

VIP-226: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks and fix BUSD price to $1 Summary If passed, this VIP will perform the following actions: - Redeem the vBUSD from the community treasury (7,021,262.3 vBUSD to 156,571 BUSD, approximately) - Transfer BUSD reserves (2,373,087.5 BUSD) and redeemed BUSD liquidation revenue (156,571 BUSD, approximately) to Binance, where it will be exchanged for USDT. The converted USDT will then be sent back to the Community Treasury - Set a fixed price of $1 for BUSD, preparing for the deprecation of BUSD price feed on Chainlink, scheduled for January 5th, 2024 Description The Community Treasury holds 7,021,262.3 vBUSD (redeemable to approximately 156,571 BUSD), and the BUSD reserves are 2,373,087.5 BUSD (block 34837453). This VIP will redeem the vBUSD tokens currently held by the Community Treasury, and transfer the BUSD to Binance for the conversion to USDT. To do that, the VIP will use the TokenRedeemer contract. This VIP also withdraws all available BUSD reserves to Binance for the conversion to USDT. The converted USDT will then be redeposited into our Treasury. This VIP fixes the BUSD price to $1. The collateral factor of this market was set to zero in the VIP-223, users cannot supply BUSD to the market and they cannot borrow BUSD from the market either. Therefore, setting the price for BUSD to $1 fixed does not have any impact on the protocol, it is only a cosmetic measure aligned with the Paxos statement. VIP simulation: https://github.com/VenusProtocol/vips/pull/147 References - VIP-215 BUSD debt mitigation - VIP-216: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks - TokenRedeemer contract deployed to mainnet Vote 👉🏻 https://app.venus.io/#/governance/proposal/226?chainId=56

VIP-226: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks and fix BUSD price to $1 Summary If passed, this VIP will perform the following actions: - Redeem the vBUSD from the community treasury (7,021,262.3 vBUSD to 156,571 BUSD, approximately) - Transfer BUSD reserves (2,373,087.5 BUSD) and redeemed BUSD liquidation revenue (156,571 BUSD, approximately) to Binance, where it will be exchanged for USDT. The converted USDT will then be sent back to the Community Treasury - Set a fixed price of $1 for BUSD, preparing for the deprecation of BUSD price feed on Chainlink, scheduled for January 5th, 2024 Description The Community Treasury holds 7,021,262.3 vBUSD (redeemable to approximately 156,571 BUSD), and the BUSD reserves are 2,373,087.5 BUSD (block 34837453). This VIP will redeem the vBUSD tokens currently held by the Community Treasury, and transfer the BUSD to Binance for the conversion to USDT. To do that, the VIP will use the TokenRedeemer contract. This VIP also withdraws all available BUSD reserves to Binance for the conversion to USDT. The converted USDT will then be redeposited into our Treasury. This VIP fixes the BUSD price to $1. The collateral factor of this market was set to zero in the VIP-223, users cannot supply BUSD to the market and they cannot borrow BUSD from the market either. Therefore, setting the price for BUSD to $1 fixed does not have any impact on the protocol, it is only a cosmetic measure aligned with the Paxos statement. VIP simulation: https://github.com/VenusProtocol/vips/pull/147 References - VIP-215 BUSD debt mitigation - VIP-216: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks - TokenRedeemer contract deployed to mainnet Vote 👉🏻 https://app.venus.io/#/governance/proposal/226?chainId=56

VIP-226: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks and fix BUSD price to $1 Summary If passed, this VIP will perform the following actions: - Redeem the vBUSD from the community treasury (7,021,262.3 vBUSD to 156,571 BUSD, approximately) - Transfer BUSD reserves (2,373,087.5 BUSD) and redeemed BUSD liquidation revenue (156,571 BUSD, approximately) to Binance, where it will be exchanged for USDT. The converted USDT will then be sent back to the Community Treasury - Set a fixed price of $1 for BUSD, preparing for the deprecation of BUSD price feed on Chainlink, scheduled for January 5th, 2024 Description The Community Treasury holds 7,021,262.3 vBUSD (redeemable to approximately 156,571 BUSD), and the BUSD reserves are 2,373,087.5 BUSD (block 34837453). This VIP will redeem the vBUSD tokens currently held by the Community Treasury, and transfer the BUSD to Binance for the conversion to USDT. To do that, the VIP will use the TokenRedeemer contract. This VIP also withdraws all available BUSD reserves to Binance for the conversion to USDT. The converted USDT will then be redeposited into our Treasury. This VIP fixes the BUSD price to $1. The collateral factor of this market was set to zero in the VIP-223, users cannot supply BUSD to the market and they cannot borrow BUSD from the market either. Therefore, setting the price for BUSD to $1 fixed does not have any impact on the protocol, it is only a cosmetic measure aligned with the Paxos statement. VIP simulation: https://github.com/VenusProtocol/vips/pull/147 References - VIP-215 BUSD debt mitigation - VIP-216: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks - TokenRedeemer contract deployed to mainnet Vote 👉🏻 https://app.venus.io/#/governance/proposal/226?chainId=56

VIP-226: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks and fix BUSD price to $1 Summary If passed, this VIP will perform the following actions: - Redeem the vBUSD from the community treasury (7,021,262.3 vBUSD to 156,571 BUSD, approximately) - Transfer BUSD reserves (2,373,087.5 BUSD) and redeemed BUSD liquidation revenue (156,571 BUSD, approximately) to Binance, where it will be exchanged for USDT. The converted USDT will then be sent back to the Community Treasury - Set a fixed price of $1 for BUSD, preparing for the deprecation of BUSD price feed on Chainlink, scheduled for January 5th, 2024 Description The Community Treasury holds 7,021,262.3 vBUSD (redeemable to approximately 156,571 BUSD), and the BUSD reserves are 2,373,087.5 BUSD (block 34837453). This VIP will redeem the vBUSD tokens currently held by the Community Treasury, and transfer the BUSD to Binance for the conversion to USDT. To do that, the VIP will use the TokenRedeemer contract. This VIP also withdraws all available BUSD reserves to Binance for the conversion to USDT. The converted USDT will then be redeposited into our Treasury. This VIP fixes the BUSD price to $1. The collateral factor of this market was set to zero in the VIP-223, users cannot supply BUSD to the market and they cannot borrow BUSD from the market either. Therefore, setting the price for BUSD to $1 fixed does not have any impact on the protocol, it is only a cosmetic measure aligned with the Paxos statement. VIP simulation: https://github.com/VenusProtocol/vips/pull/147 References - VIP-215 BUSD debt mitigation - VIP-216: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks - TokenRedeemer contract deployed to mainnet Vote 👉🏻 https://app.venus.io/#/governance/proposal/226?chainId=56

VIP-226: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks and fix BUSD price to $1 Summary If passed, this VIP will perform the following actions: - Redeem the vBUSD from the community treasury (7,021,262.3 vBUSD to 156,571 BUSD, approximately) - Transfer BUSD reserves (2,373,087.5 BUSD) and redeemed BUSD liquidation revenue (156,571 BUSD, approximately) to Binance, where it will be exchanged for USDT. The converted USDT will then be sent back to the Community Treasury - Set a fixed price of $1 for BUSD, preparing for the deprecation of BUSD price feed on Chainlink, scheduled for January 5th, 2024 Description The Community Treasury holds 7,021,262.3 vBUSD (redeemable to approximately 156,571 BUSD), and the BUSD reserves are 2,373,087.5 BUSD (block 34837453). This VIP will redeem the vBUSD tokens currently held by the Community Treasury, and transfer the BUSD to Binance for the conversion to USDT. To do that, the VIP will use the TokenRedeemer contract. This VIP also withdraws all available BUSD reserves to Binance for the conversion to USDT. The converted USDT will then be redeposited into our Treasury. This VIP fixes the BUSD price to $1. The collateral factor of this market was set to zero in the VIP-223, users cannot supply BUSD to the market and they cannot borrow BUSD from the market either. Therefore, setting the price for BUSD to $1 fixed does not have any impact on the protocol, it is only a cosmetic measure aligned with the Paxos statement. VIP simulation: https://github.com/VenusProtocol/vips/pull/147 References - VIP-215 BUSD debt mitigation - VIP-216: Conversion of BUSD to USDT to Mitigate BUSD Depreciation Risks - TokenRedeemer contract deployed to mainnet Vote 👉🏻 https://app.venus.io/#/governance/proposal/226?chainId=56